"Stock market today: Dow, S&P 500 waver after hotter-than-expected inflation print"
US stocks were lower on Thursday after the latest consumer inflation print came in hotter than anticipated, further blurring the picture of the Federal Reserve's next interest rate decision in November.
The Dow Jones Industrial Average (^DJI) slipped 0.4%, and the S&P 500 (^GSPC) dropped more than 0.3% after both clinched fresh record highs on Wednesday. The tech-heavy Nasdaq Composite (^IXIC) was off about 0.1%.
US stocks were lower on Thursday after the latest consumer inflation print came in hotter than anticipated, further blurring the picture of the Federal Reserve's next interest rate decision in November.
The Dow Jones Industrial Average (^DJI) slipped 0.4%, and the S&P 500 (^GSPC) dropped more than 0.3% after both clinched fresh record highs on Wednesday. The tech-heavy Nasdaq Composite (^IXIC) was off about 0.1%.
Amid all the moving parts, traders now see a 18% chance that the Fed will hold rates steady in November, per the CME FedWatch Tool. Just a week ago, the odds of no cut were at 0% as the market heeded policymakers' message and prepared for a 25 basis point rate reduction.
